Megan Wright

References:

http://www.macrotrends.net/1333/gold-and-silver-prices-100-year-historical-
chart
http://www.goldpriceoz.com
http://goldprice.org/gold-price-history.html



Points used to find slope: (3,350) (6, 700)

700-350 350 ----> 116.67
6-3 3

350=116.67(3)+b
350=350.01+b
-.01=b
y=116.67x-.01
y = 119.67x - 239353
$0.00
$200.00
$400.00
$600.00
$800.00
$1,000.00
$1,200.00
$1,400.00
$1,600.00
$1,800.00
2000 2002 2004 2006 2008 2010 2012
P
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Year
Gold Prices
Megan Wright


y=116.67x+-.01

The y is the total price of gold per ounce for that year. The year is represented by the
x. The -.01 is the starting point at which it started. The 116.67 is what is added to the
initial amount in which was started with.

In the graph that was done automatically by excel, the line increases more every
year than it does in the chart I did. Personally, I think my graph is more realistic.
First, on other cites I found that the past few years the price of gold have decreased
more than the have increased. The reason I made the line increase the way I did was
because I believe in the future that the price of gold will increase by a couple
hundred dollars then after a few years the price will go down. After a while of this
happening, I think that gold will no have as much value as it does no which will
ultimately result in the price of gold not making much of a difference between
increase or decrease. The second graph is better than the excel graph because things
can only increase so much before they have a decrease. If there is less of an increase
on something, it will make it last that much longer than if it reaches its maximum
point because once it reaches that point it loses most if not all of its value. Also, if it
doesnt have such big increases at one time it could result in less of a decrease when
the time comes when the price decreases again.

$0.00
$200.00
$400.00
$600.00
$800.00
$1,000.00
$1,200.00
$1,400.00
$1,600.00
$1,800.00
2000 2002 2004 2006 2008 2010 2012
P
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o
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Year
Gold Prices
Predictions:

1. Within the next 5 years: Gold prices will only increase by a few dollars until it
decreases again.
2. Within the next 10 years: Gold prices will decrease a couple years before they
increase some more.
3. Within the next 20-30 years: Gold will loose a lot of its value that will result
in little increase or decrease in the price of gold per ounce.